1. A Proposal for a Trans-Caspian Development Bank
- Author:
- Carlos Roa, Charles Yockey, and Ibrahim Mammadov
- Publication Date:
- 04-2025
- Content Type:
- Journal Article
- Journal:
- Baku Dialogues
- Institution:
- ADA University
- Abstract:
- Diplomacy is not alchemy. Just as lead cannot be magically turned into gold, grand visions require practical tools to become reality. The Middle Corridor—a trade and transport route stretching from Central Asia across the Caspian Sea to the South Caucasus and onward to Türkiye and the European continent—is one such vision. The corridor has captured the imagination of policymakers and strategists, who seek to reorient global trade flows, diversify energy routes, and diminish dependencies on geopolitical chokepoints like the Suez Canal. Yet, for all its potential, the Middle Corridor still remains more of an ambition than a reality, constrained by insufficient infrastructure, fragmented political coordination, and—perhaps most importantly, a lack of cohesive financial strategy. For the Middle Corridor to succeed as a vital artery of international commerce, it requires more than bilateral agreements and fragmented investments. The project requires a dedicated institution capable of bridging its diverse stakeholders, financing transformative projects, and aligning growth with the twenty‑first century’s imperatives like digital innovation and climate adaptation. A Trans‑Caspian Development Bank (TCDB) could provide precisely the kind of focused and flexible framework needed to turn the Middle Corridor into a thriving economic corridor. By pooling resources and expertise from member states, private investors, and international partners, the TCDB would fill the critical gap between lofty ambitions and actionable progress.
- Topic:
- Diplomacy, Geopolitics, Trade, and Multilateral Development Banks (MDBs)
- Political Geography:
- Central Asia and South Caucasus